Current Terms of Business

The following Terms of Business apply to all engagements accepted by HardingRedmans Limited.  All work is carried out under these terms except where changes are expressly agreed in writing.


1.0        Professional rules and practice guidelines


1.1       We will observe the bye-laws, regulations and ethical guidelines of the Institute of Chartered Accountants in England and Wales and accept instructions to provide services to you on the basis that we will act in accordance with them.  You can see copies of these requirements in our offices.  The requirements are also available on the internet at 


2.0       Investment advice


2.1       Investment business is regulated by the Financial Services and Markets Act 2000. If during the provision of professional services to you, you need advice on investments, we may have to refer you to someone who is authorised by the Financial Conduct Authority, as we are not. However, as we are licensed by the Institute of Chartered Accountants in England and Wales, we may be able to provide certain investment services that are complementary to, or arise out of, the professional services we are providing to you. In the unlikely event that we cannot meet our liabilities to you, you may be able to claim compensation under the Chartered Accountants’ Compensation Scheme in respect of exempt regulated activities undertaken.


3.0        Referral to a Permitted Third Party (PTP)


3.1.      Should you require advice on investment business which we are unable to give as we are not authorised by the Financial Conduct Authority we can introduce you to a suitable PTP.


3.2       The PTP will issue you with his own terms and conditions letter, will be remunerated separately for their services and will take full responsibility for compliance with the requirements of the Financial Services and Markets Act 2000. We will act as introducers but would be pleased to comment on, or explain any advice received and if required attend any meetings with you.


3.3       We will inform you when any introductory fee or commission is received and agree with you how this is to be dealt with at that time.  The income received by that firm in respect of advice given to you will be advised to you by the PTP directly.


4.0        Commissions or other benefits


4.1       In some circumstances we may receive commissions or other benefits for introductions to other professionals or transactions we arrange for you.  In this case we will notify you in writing of the amount, the terms of payment and receipt of any such commissions or benefits. 


5.0        Clients’ money regulations


5.1       We may, from time to time, hold money on your behalf.  The money will be held in trust in a client bank account, which is segregated from the firm's funds.  The account will be operated, and all funds dealt with, in accordance with the Clients' Money Regulations of the Institute of Chartered Accountants in England and Wales.


5.2       All client monies will be held in an interest-bearing account.  To avoid excessive administration, interest will only be paid to you where the amount earned on the balances held on your behalf in any calendar year exceeds £25.00.  If the total sum of money held on your behalf is enough to give rise to a significant amount of interest or is likely to do so, then we will put the money in a designated interest-bearing client bank account and pay the interest to you.  Subject to any tax legislation, interest will be paid gross.


6.0       Money Laundering Reporting


6.1       The provision of audit, accountancy or tax services is a business in the regulated sector under the Proceeds of Crime Act 2002 and, as such, directors and staff in audit firms are required to report all knowledge or suspicion, or reasonable grounds to know or suspect, that a criminal offence giving rise to any direct or indirect benefit from criminal conduct has been committed, regardless of whether that offence has been committed by their client or a third party.  If as part of our normal audit, accountancy or tax work we have knowledge or suspicion, or have reasonable grounds to know or suspect, that such offences have been committed, we are required to make a report to the Serious Organised Crime Agency (SOCA).  In such circumstances it is not our practice to discuss such reports with you because of the restrictions imposed by the tipping off provisions to the anti-money laundering legislation.


7.0        Retention of records


7.1       During our work we will collect information from you and others acting on your behalf and will return any original documents to you following preparation of your Tax Return.  You should retain them for six years from the 31 January following the end of the tax year.  You should retain them for longer if HM Revenue & Customs enquire into your Tax Return.


7.2       Whilst certain documents may legally belong to you, unless you tell us not to, we intend to destroy correspondence and other papers that are more than seven years old, except documents we think may be of continuing significance.  You must tell us if you wish us to keep any document for any longer period.


8.0        Conflicts of interest and independence


8.1       We reserve the right during our engagement with you to deliver services to other clients whose interests might compete with yours or are or may be adverse to yours, subject to 9 below.  We confirm that we will notify you immediately should we become aware of any conflict of interest involving us and affecting you.


9.0        Confidentiality


9.1       We confirm that where you give us confidential information we shall at all times keep it confidential, except as required by law or as provided for in regulatory, ethical or other professional statements relevant to our engagement.


10.0      Data Protection Act 1998


10.1     To enable us to discharge the services agreed under our engagement, and for other related purposes including updating and enhancing client records, analysis for management purposes and statutory returns, crime prevention and legal and regulatory compliance, we may obtain, use, process and disclose personal data about you.  We confirm when processing data on your behalf we will comply with the relevant provisions of the Data Protection Act 1998.

11.0      Client Identification


11.1     As with other professional services firms, we are required to identify our clients for the purposes of the UK anti-money laundering legislation.  We may request from you, and retain, such information and documentation as we require for these purposes and /or make searches of appropriate databases.


12.0      Quality control


12.1     As part of our ongoing commitment to providing a quality service, our files are periodically reviewed by an independent regulatory or quality control body.  These reviewers are highly experienced and professional people and, of course, are bound by the same rules for confidentiality as our principal and staff.


13.0      Help us give you the best service


13.1     We wish to provide a high quality of service at all times.  If at any time you would like to discuss with us how we could improve our service, or if you are dissatisfied with the service you are receiving please let us know by contacting S J Harding.


13.2     We will look into any complaint carefully and promptly and do all we can to explain the position to you.  If we have given you a less than satisfactory service we undertake to do everything reasonable to put it right.  If you are still not satisfied you may of course refer the matter to our Institute.


14.0      Contracts (Rights of Third Parties) Act 1999


14.1     Only someone who is a party to this agreement has the right under the Contracts (Rights of Third Parties) Act 1999 to enforce any of its terms.  This clause does not affect any right or remedy that exists independently of the Act.


14.2     The advice we give you is for your sole use and is confidential to you and will not constitute advice for any third party to whom you may communicate it.  We will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.


15.0      Fees


15.1     Our fees are computed by reference to time spent on your affairs by principal and staff, and on the levels of skill and responsibility involved.  Our fees will be billed at appropriate intervals throughout the year and will be due within 30 days of the date of the fee invoice.  Please settle our fee invoices promptly.  You will appreciate that if a fee invoice remains unpaid, we may decline to carry out any further work on your behalf, at which point the full value of work in progress will be billed.  We reserve the right to charge interest at 2% per month on any balance remaining unpaid after 30 days.  If you have any queries on fee invoices please raise them promptly.


15.2     If we need to do work outside the responsibilities outlined in our engagement letter, we will advise you in advance.  This will involve additional fees.


16.0     Professional Indemnity Insurance


16.1     In accordance with the disclosure requirements of the Provision of Services Regulations 2009, our professional indemnity insurer is Royal & Sun Alliance Insurance Plc, 9th Floor, One Plantation Place, 30 Fenchurch Street, London EC3M 3BD.  The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.

17.0      Applicable law


17.1     Our engagement with you is governed by, and interpreted in accordance with, English law.  The Courts of England shall have exclusive jurisdiction in relation to any claim, dispute or difference concerning our engagement letter and terms of business and any matter arising from or under them.  Each party irrevocably waives any right it may have to object to any action being brought in those courts, to claim that the action has been brought in an inconvenient forum, or to claim that those courts do not have jurisdiction.





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